This is a discussion thread · 11 replies
Anonymous:Some friends were telling me about arbitration in sports betting. They say that they can make a good living doing this however it is a difficult technique to perfect. Is it legal and what do you think about it?
Sports betting arbitration takes extreme patience for a number of reasons. First, there are not many arb's that appear on a daily basis and you'll find that once a sportsbook realise what you are doing you'll get your account limited very quickly. Secondly, you'll need a big bank to make it feasable as you'll be looking at making 1-2% per bet and there isn't always the liquidity you might need on the exchanges. Finally, there are times that you won't find an arb and you'll need a lot of self control to not have a bet at these times.
Good luck though, if you have the patience you can make money.
There is some arb software that can help you too. I don't know much about it but there are people that don't even look for arb's because their software picks them up.
Anonymous: With all respect here, I can't stand people who sit around all day looking for arbs hoping to win a little money. I realise that they will make some profit in the long run however they must lead boring lives only looking for bookmaker's errors. Sorry but I just don't agree with it.
I'm surprised that noone has mentioned that is is reallly difficult as bookmakers immediately limit people's accounts when they spot an arber. That's the most frustrating part of arbitration, actually being able to get money on with a bookmaker!!!
Some bookies will then void the arbers bets if the prices are too far out of whack returning the initial stake, the bad thing being that when the arber lays the bet off on the exchanges he/she could end up losing lots of cash. Thems the risks
Welcome to the forums.
Do the bookies have the right to just void a bet if a price is out and how far out does it have to be?
yup bookies can void the bets, if your unsure take a look at the rules section on the bookies websites, most will have a rule about pricing errors and the action they can take. The majority of the giant bookies will probably allow the bets to stand however they are giants because very few errors occur or they set the prices that other smaller bookies will follow, most arbers will open accounts with smaller bookies where mistakes are more common, however as the firms are smaller the bets get noticed much easier and accounts get limited or shut down very quickly. pricing errors can occur very easily due to the large amount of information that gets inputted during the day for example if a horse is 10/1 and the inputter misses out the slash the price goes up to 101 decimal (100/1) which is an obvious mistake however the error may only be noticed when arbers start backing it and the traders will then order the bets void and stakes returned, on the bookies end the customer hasnt lost or gained anything however as mentioned before lots of the arbers money may have been lost laying the bet on the exchanges.
Thanks for that reverend
One last thing... if the customer is unhappy about the bet being void is there anyone they can turn to to dispute it? I'm sure it wouldn't be the first time that the bookies try voiding bets which are not a big price difference to what they 'should have been'.
If you feel that the bets have been unjustly voided (as some naughty bookies actually void winning bets to avoid paying out regardless of error) and you have had no joy from the company, the next thing to do is to go to the independant betting adjudication services to lodge a complaint. the website is:
For a webite that lists all the bookies and gives ratings for each of them and any issues customers may have had follow the link below,
Hope this helps